Southland Gas Prices Rise To Highest Amount In Over Three Years

posted by City News Service - 

LOS ANGELES (CNS) - The average price of a gallon of self-serve regular gasoline in Los Angeles County rose today to its highest amount in more than three years, increasing 2.3 cents to $3.845.

The average price has risen 16 consecutive days, increasing 17.7 cents, according to figures from the AAA and Oil Price Information Service.

The average price is 12.2 cents more than one week ago, 18.7 cents higher than one month ago and 73.2 cents greater than one year ago. It has risen 69.5 cents since the start of the year.

The Orange County average price rose 2.6 cents to $3.807.

The Orange County average price has risen 15 consecutive days, increasing 19.6 cents. It is 13.3 cents more than one week ago, 20.5 cents higher than one month ago and 73.5 cents greater than one year ago. It has risen 69.1 cents since the start of the year.

The run of rising prices is the result of two Southern California refineries experiencing unplanned shutdowns, causing supply concerns, and an approximately 8 percent increase in the price of oil over the past month “over supply concerns resulting from the Iran sanctions and continuing falling production levels in Venezuela,” Marie Montgomery of the Automobile Club of Southern California told City News Service.

Photo: Getty Images

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